Prepare a comprehensive balance sheet and Single-Step Income Statement in good form using accounts and amounts given

Objective

To prepare a comprehensive balance sheet and Single-Step Income Statement presented in good form and derived from a list of various accounts. The amounts relative to each account will be given and the student will learn to determine whether an account is a balance sheet account or a temporary account that belongs to the income statement. The accounts will be comprised of all the various subgroupings in the balance sheet (Current Assets, Investment, Fixed Assets, Intangibles, and Other Assets, as well as Current Liabilities, Long-term Liabilities, and the Equity sections). Guidelines:

Obtain the list of accounts under the section Course Project Listing of Accounts
Determine which accounts belong to the Balance Sheet and which accounts belong to the Income Statement
Determine to which sub-group each account belongs
Arrange the accounts in proper order and functionality
Prepare a Comprehensive Balance Sheet in good form
Prepare a Single-step Income Statement in good form